One of Mumbai's biggest real estate redevelopment projects of Bombay Development Directorate's (BDD's) chawls (large buildings divided into many separate tenements, offering cheap, basic accommodation) has taken off in Central Mumbai, opening up a Rs 20,000-crore opportunity for real estate companies. It is expected to drive down real estate prices in Central Mumbai by up to 25 per cent, forecast real estate experts. Spread over 92 acres in Central Mumbai's prime localities of Worli, Lower Parel, and Dadar and consisting 195 four-storey houses, the BDD chawls were constructed in the 1920s.
The Tatas, L&T and Bharat Forge expressed interest in building pressure swing adsorption oxygen plants at hospital sites, while IOC and RIL are pitching in with both oxygen and cryogenic tankers needed for its transportation.
The change in leadership at the railway ministry comes at a time when the national transporter is grappling with low passenger earnings even as it is trying to increase freight loading and open up its doors to private investment. Union Minister Ashwini Vaishnaw took charge from Piyush Goyal who got the railway portfolio in 2017 after Prime Minister Narendra Modii dropped Suresh Prabhu from the Union Cabinet. Completing freight corridors, negotiating land for the bullet train, and speeding up monetisation plans would be some of the major focus areas for Vaishnaw.
The FPI holding in India's top 100 companies, which are part of the Nifty 100 index, declined to 24.23 per cent on average at the end of March this year, from a high of 27.5 per cent at the end of March 2021. This is the lowest FPI holdings in India's top listed companies in at least three years. A general sell-off by FPIs has weighed on stock prices and the benchmark S&P BSE Sensex is down 8.5 per cent, from its 52-week high made in October 2021. Most analysts expect FPI flows to remain weak in FY23 as well, given rising bond yields in the US and an expected earnings slowdown in India due to high inflation and commodity prices.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
India's traditional companies are now moving full scale into the renewable and alternative energy space that had been dominated by smaller players over the past decade. Companies such as government-owned NTPC and the Adani and the Tata groups restructured their businesses well in time to become major players in the green space. At the same time, other conventional companies, such as Larsen & Toubro and Reliance Industries Ltd (RIL), which have a presence both in the energy sector as well as myriad other activities - construction, technology and retailing - are tying up with new-age companies to hitch a ride to a greener path.
The tunnel would reduce the travel time to the Ladakh region by 15-20 per cent and would come up close to the Atal tunnel near Rohtang Pass, reports Megha Manchanda.
The Sardar Patel Motera Stadium in Ahmedabad is spread over 63 acres, with a seating capacity of 1.10 lakh people. It overtakes Melbourne Cricket Ground, which can accommodate 90,000 people.
India has over 4,000 medium tanks, but not a single light tank. It remains to be seen whether the Ladakh face-off with China galvanises a change, observes Ajai Shukla.
Around 75 per cent, or 372 stocks, that are part of the BSE500 are trading at least 10 per cent below their all-time high levels, despite the index hitting a record high 20,515 points on the BSE in intra-day trade on Wednesday, surpassing its previous high of 20,390 touched in March 12. The index, which accounts for 93 per cent of BSE listed companies' market capitalisation, has gained 8 per cent from its recent low of 18,983, touched on April 19. In comparison, the benchmark S&P BSE Sensex gained 6 per cent over the same period, but is still nearly 4.5 per cent away from its all-time high of 52,517 that it hit on February 16.
Govt to play enabler not handler, India never had more decisive government: PM Modi Prime Minister Narendra Modi on Monday cited his dispensation's push for wide-ranging reforms, including the privatisation of Air India, to assert that the country never had a more "decisive government". Launching the Indian Space Association (ISpA), an industry body aspiring to be the voice of the country's space sector, Modi noted that fields like mining, coal, defence and space have been opened to private players, and said his government's clear policy about public sector enterprises is to open those to private industry where its presence is not required. While opening a host of sectors, the government has built a regulatory environment in which priority has been given to national interest as well as the interests of different stakeholders, he said.
Changes have been made in several indices including Nifty 500, Nifty 200, Nifty 100, Nifty Midcap 150, Nifty Smallcap 250 and host of sectoral indices including FMCG, IT, media, pharma, commodities and services sector.
England have the chance to reach a first major final since their 1966 World Cup triumph when they take on Denmark at Wembley in Wednesday's Euro 2020 semi-final, but they will need to banish a history of stumbling at this stage.
Some are innovators, some have inherited their family business and some are at the helm of big corporate houses. They are all successful in their own stride. Can you identify these business leaders? Take this quiz to find out
Mobility company Ola's chief financial officer Swayam Saurabh and chief operating officer Gaurav Porwal are leaving the company. These developments come at a time when the SoftBank-backed company's core ride-hailing unit is planning to go public and for which it raised $500 million from Warburg Pincus and Temasek in July this year. These investment firms had partnered with the company founder Bhavish Aggarwal for this round.
Building 6 conventional submarines is one of the Indian Navy's most important weapon construction programmes.
Has the army confronted China, equipping itself with emergency purchases that have been largely paid for by pensioners, asks Ajai Shukla.
Chairman A M Naik said H2 of 2020-21 will herald better economic and business activity in terms of tendering, good liquidity, as well as revival of labour and supply chains.
PowerGrid was the top gainer in the Sensex pack, spurting 2.76 per cent, followed by NTPC, M&M, L&T, Hindustan Unilever, HDFC, and Infosys.
DRDO's Air Independent Propulsion system will allow Indian Navy submarines to operate for up to two weeks without having to surface to recharge its batteries.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Kane Williamson suffered an "inflamed AC joint in his left shoulder" while fielding in a Twenty20 match against India last week and will miss Wednesday's match in Hamilton and Saturday's clash in Auckland, New Zealand Cricket said on Tuesday.
News of all that's transpired on and off the football field.
South African-born batsman Devon Conway and left-arm spinner Ajaz Patel also received their first central contracts, NZC said in a statement
The first consortium includes Afcons Infrastructure, IRCON International and JMC Projects, while the second group of companies include NCC, Tata Projects and J. Kumar Infra Projects.
Batsman Neil Broom has also been offered a contract after he was recalled to the national side following a lengthy absence to replace Ross Taylor while he recovered from eye surgery.
New Zealand opening batsman Martin Guptill has been dropped for the Test series against Pakistan and the uncapped Jeet Raval is poised to make his debut.
he 30-share Sensex ended at 20,062 down 49 points or 0.25% and the 50-share Nifty ended at 6,095 down by 20 points or 0.32%.
Infrastructure firm Larsen and Toubro on Thursday said it would form a joint venture company with the South Africa-based Befula Investments to explore opportunities in the power sector in the African nation.
All-rounder James Neesham has returned to the New Zealand Test squad for their three-Test tour of India.
'The F-21's capabilities far exceed all other torpedoes currently in service.'
Glenn Phillips and Todd Astle are in line to make their ODI debut after being among the six players added to the New Zealand squad for the three-match series against India, beginning in Mumbai on October 22.
After the hit of the pandemic, India Inc is now worried about the adverse impact of inflation and higher commodity prices on their revenues and margins. The inflation scare is the strongest among manufacturers of consumer goods such as automobiles, consumer durables, and fast-moving capital goods (FMCG). Companies across sectors fear they will not be able to pass on the hike in input costs to their consumers due to weak demand, which, in turn, would lead to a hit on margins and profitability in the forthcoming quarters.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The deal size and project completion deadline were not disclosed in the announcement, but people in the know have pegged the deal at over Rs 6,000 crore, reports Aneesh Phadnis.
'Our automakers export 50 per cent of what they manufacture and once the policy comes into play, which is in the next 2-3 years, we would become a Rs 10 trillion industry.'
Completed projects saw an improvement of 29.2 per cent over the June quarter, which is valued at Rs 0.31 trillion.
New Zealand, on Monday, recalled temperamental all-rounder Corey Anderson for the five-match ODI series against India next month and he will play as a specialist batsman.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The growth was led by family-owned companies and business groups with presence in pharmaceuticals, information technology services, and consumer products.
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